Langley Properties Sells Shopping Center in Alabama to RCG Ventures for $18.5M

GULF SHORES, ALA. — Langley Properties Co. has sold Pelican Place at Craft Farms, a 229,911-square-foot shopping center located at 3800 Gulf Shores Parkway in Gulf Shores. Atlanta-based RCG Ventures purchased the asset from Langley Properties for $18.5 million. The shopping center’s tenant roster includes Bed Bath & Beyond, Cobb Theatres and Books-A-Million. Target and Publix shadow-anchor the center. Fred Victor of Transwestern represented the seller in the transaction. Scott Tarbet represented the buyer internally.